BNM requires ITO to offer MHIT products with cost-sharing features starting 3Q

KUALA LUMPUR: Bank Negara Malaysia (BNM) has required insurers and takaful operators (ITO) to introduce cost-sharing features in their new medical and health insurance and takaful (MHIT) products starting in the third quarter (3Q) of this year.

Deputy Finance Minister Lim Hui Ying said this is one of the measures to deal with the sudden increase in premiums or contributions for MHIT products.